Activity fees

Activity fees are generally charged where a document of a designated class is filed and are designed to cover the average costs the OSC incurs in reviewing documents, such as reviewing prospectuses, registration applications and applications for discretionary relief. Generally, the activity fees are based on an estimate of the average cost of OSC staff resources generally used in performing the activity.

Activity Fees under Ontario’s Securities Act

Row Document or Activity (Column A Participation Fee (Column B)
  A. Prospectus Filings  
A1 Preliminary or Pro Forma Prospectus in Form 41- 101F1 (including if PREP procedures are used) $3,800
A2 Additional fee(s) for Preliminary or Pro Forma Prospectus of an issuer that is accompanied by, or incorporates by reference, technical report(s) that has not or have not been previously incorporated by reference in a Preliminary or Pro Forma Prospectus $2,500 for each technical
report
 
A3 Preliminary Short Form Prospectus in Form 44-101F1 (including if shelf or PREP procedures are used) or a Registration Statement on Form F-9 or F-10 filed by an issuer that is incorporated or that is organized under the laws of Canada or a jurisdiction in Canada province or territory in connection with a distribution solely in the United States under MJDS as described in the companion policy to National Instrument 71-101 The Multijurisdictional Disclosure System. $3,800
A4

Prospectus Filing by or on behalf of certain investment Funds

(a) Preliminary or Pro Forma Simplified Prospectus and Annual Information Form in Form 81-101F1 and Form 81-101F2

(b) Preliminary or Pro Forma Prospectus in Form 41-101F2 or Scholarship Plan Prospectus in Form 41-101F3

The greater of
(i) $3,800 for a prospectus,
and
(ii) $400 for each mutual
fund in a prospectus.

The greater of
(i) $3,800 for a
prospectus, and
(ii) $650 for each
investment fund in a
prospectus.
 
A5 Review of prospectus supplement in relation to a specified derivative (as defined in National Instrument 44-102 Shelf Distributions). $3,800
A6 Filing of prospectus supplement in relation to a specified derivative (as defined in National Instrument 44-102 Shelf Distributions) for which the amount payable is determined with reference to the price, value or level of an underlying interest that is unrelated to the operations or securities of the issuer. $500
  B. Fees relating to exempt distributions under OSC Rule 45-501 Ontario Prospectus and Registration Exemptions and NI 45-106  
B1 Application for recognition, or renewal of recognition, as an accredited investor $500
B2 Filing of a Form 45-106F1 for a distribution of securities of an issuer under an exemption from the prospectus requirement other than section 2.9 [Offering memorandum] of NI 45-106 $500
B3 Filing of a rights offering circular in Form 45-106F15 $3,800
(plus an additional fee of $2,000 in connection with any application or filing described in any of Rows B1 to B3 if neither the applicant nor the filer or an issuer of which the applicant or filer is a wholly owned subsidiary is subject to, or is reasonably expected to become subject to, a participation fee under this Rule)
 
  C. Notice of exemption  
C1 Provision of Notice under paragraph 2.42(2)(a) of NI 45-106 $2,000
  D. Syndicate Agreement  
D1 Filing of Prospecting Syndicate Agreement $500
  E. Applications for specifically enumerated relief, approval, recognition, designation, etc.  
E1 An application for relief from this Rule. $1,800
E2 An application for relief from any of the following:
(a) National Instrument 31-102 National Registration Database;
(b) NI 33-109
(c) section 3.11 [Portfolio manager – advising representative] of NI 31-103;
(d) section 3.12 [Portfolio manager – associate advising representative] of NI 31-103;
(e) section 3.13 [Portfolio manager – chief compliance officer] of NI 31-103;
(f) section 3.14 [Investment fund manager – chief compliance officer] of NI 31-103; 
(g) section 9.1 [IIROC membership for investment dealers] of NI 31-103;
(h) section 9.2 [MFDA membership for mutual fund dealers] of NI 31-103.		 $1,800
E3 An application for relief from any of the following:
(a) section 3.3 [Time limits on examination requirements] of NI 31- 103;
(b) section 3.5 [Mutual fund dealer – dealing representative] of NI 31- 103;
(c) section 3.6 [Mutual fund dealer – chief compliance officer] of NI 31-103;
(d) section 3.7 [Scholarship plan dealer – dealing representative] of NI 31-103;
(e) section 3.8 [Scholarship plan dealer – chief compliance officer] of NI 31-103;
(f) section 3.9 [Exempt market dealer – dealing representative] of NI 31-103,
(g) section 3.10 [Exempt market dealer – chief compliance officer] of NI 31-103.		 $500
E4 An application under subparagraph 1(10)(a)(ii) of the Act $1,000
E5 An application
(a) under section 30 or subsection 38(3) of the Act or subsection 1(6) of the Business Corporations Act,
(b) under subsection 144(1) of the Act for an order to partially revoke a cease-trade order to permit trades solely for the purpose of establishing a tax loss, as contemplated under section 3.2 of National Policy 12-202 Revocation of a Compliance-related Cease Trade Order, and
(c) under subsections 144(1) and 127(4.3) of the Act to revoke a cease trade order made under subsection 127(4.1) of the Act that has been in effect for 90 days or less.		 Nil
E6 An application other than a pre-filing, where the discretionary relief or regulatory approval is evidenced by the issuance of a receipt for the applicants’ final prospectus (such as certain applications under National Instrument 41-101 General Prospectus Requirements or National Instrument 81-101 Mutual Fund Prospectus Disclosure). (a) $4,800 for an application for relief, or approval under, one section of the Act, a regulation or a rule
(b) $7,000 for an application for relief from, or approval under, two or more sections of the Act, regulation or a rule
E7 An application for approval under subsection 213(3) of the Loan and Trust Corporations Act $1,500
E8

An application
(a) made under subsection 46(4) of the Business Corporations Act for relief from the requirements under Part V of that Act
(b) for consent to continue in another jurisdiction under paragraph 4(b) of Ont. Reg. 289/00 made under the Business Corporations Act

Note: These fees are in addition to the fee payable to the Minister of Finance as set out in the Schedule attached to the Minister's Fee Orders relating to applications for exemption orders made under the Business Corporations Act to the Commission.

 $400
  F. Market Regulation Recognitions and Exemptions  
F1 An application for recognition of an exchange under section 21 of the Act $110,000
F2 An application for exemption from the requirement to be recognized as an exchange under section 21 of the Act $83,000
F3 An application by a marketplace that trades OTC derivatives, including swap execution facilities, for exemption from the requirement to be recognized under section 21 of the Act $20,000
F4 An application by clearing agencies for recognition under section 21.2 of the Act $110,000
F5

An application for exemption from the requirement to be recognized as a clearing agency under section 21.2 of the Act

F1 to F5 that
(a) reflects a merger of an exchange or clearing agency,
(b) reflects an acquisition of a major part of the assets of an exchange or clearing agency, or
(c) involves the introduction of a new business that would significantly change the risk profile of an exchange or clearing agency, or reflects a major reorganization or restructuring of an exchange or clearing agency).

 $83,000
(plus an additional fee of $100,000 in connection with an application described in any of Rows
 
  G. Initial Filing for ATS  
G1 Review of the initial Form 21-101F2 of a new alternative trading system     $55,000
  H. Trade Repository  
H1 Application for designation as a trade repository under section 21.2.2 of the Act $83,000
  I. Pre-Filings  
I1 Each pre-filing relating to the items described in Rows F1 to F5, G1 and H1 of Appendix C One-half of the otherwise applicable fee that would be payable if the corresponding formal filing had proceeded at the same time as the pre-filing.
I2

Any other pre-filing

Note: The fee for a pre-filing under this section will be credited against the applicable fee payable if and when the corresponding formal filing (e.g., an application or a preliminary prospectus) is actually proceeded with; otherwise, the fee is non-refundable.

 The applicable fee that would be payable if the corresponding formal filing had proceeded at the same time as the pre-filing.
  J. Take-Over Bid and Issuer Bid Documents  
J1 Filing of a take-over bid or issuer bid circular under subsection 2.10(2),(3) or (4) of NI 62-104, the filing of an information circular by a person or company in connection with a solicitation that is not made by or on behalf of management, or the filing of an information circular in connection with a special meeting to be held to consider the approval of a going private transaction, reorganization, amalgamation, merger,
arrangement, consolidation or similar business combination (other than a second step business combination in compliance with MI 61-101).		 $4,500
(plus $2,000 if neither the offeror nor an issuer of which the offeror is a wholly-owned subsidiary is subject to, or reasonably expected to become subject to, a participation fee under this Rule)
J2 Filing of a notice of change or variation under section 2.13 of NI 62-104 Nil
  K. Registration-Related Activity  
K1 New registration of a firm in one or more categories of registration $1,300
K2 Addition of one or more categories of registration $700
K3 Registration of a new representative as a dealer and/or adviser on behalf of a registrant firm $200 per individual, unless the individual makes an application to register in the same category of registration within three months of terminating employment with a previous firm. 
K4 Review of permitted individual $100 per individual, unless the individual is already registered as a dealer and/or adviser on behalf of a registrant firm
K5 Change in status from not being a representative on behalf of a registrant firm to being a representative on behalf of the registrant firm $200 per individual
K6 Registration as a chief compliance officer or ultimate designated person of a registrant firm, if the individual is not registered as a representative on behalf of the registrant firm $200 per individual
K7 Registration of a new registrant firm, or the continuation of registration of an existing registrant firm, resulting from or following an amalgamation of one or more registrant firms $1,000
K8 Application for amending terms and conditions of registration $800
  L. Registrant Acquisitions  
L1 Notice required under section 11.9 [Registrant acquiring a registered firm’s securities or assets] or 11.10 [Registered firm whose securities are acquired] of NI 31-103 $3,600
  M. Certified Statements  
M1 Request for certified statement from the Commission or the Director under section 139 of the Act $100
  N. Designated Rating Organizations  
N1 An application for designation of a credit rating organization under section 22 of the Act $15,000
N2 An application for a variation of a designation of a credit rating organization under subsection 144(1) of the Act if the application
(a) reflects a merger of a credit rating organization,
(b) reflects an acquisition of a major part of the assets of a credit rating organization,
(c) involves the introduction of a new business that would significantly change the risk profile of a credit rating organization, or
(d) reflects a major reorganization or restructuring of a credit rating organization		 $15,000
N3 Any other application for a variation of a designation of a credit rating organization under subsection 144(1) of the Act $4,800
  O. Any Application not otherwise Listed in this Rule  
O1 An application for
(a) relief from one section of the Act, a regulation or a rule, or
(b) recognition or designation under one section of the Act, a regulation or a rule.		 $4,800
O2 An application for
(a) relief from two or more sections of the Act, a regulation or a rule made at the same time, or
(b) recognition or designation under two or more sections of the Act, a regulation or a rule made at the same time.		 $7,000
O3 An application made under O1 or O2 if none of the following is subject to, or is reasonably expected to become subject to, a participation fee under this Rule or OSC Rule 13-503 (Commodity Futures Act) Fees:
(i) the applicant;
(ii) an issuer of which the applicant is a wholly owned subsidiary;
(iii) the investment fund manager of the applicant)		 The amount in O1 or O2 is increased by $2,000
 
O4 An application under subsection 144(1) of the Act if the application
(a) reflects a merger of an exchange or clearing agency,
(b) reflects an acquisition of a major part of the assets of an exchange or clearing agency,
(c) involves the introduction of a new business that would significantly change the risk profile of an exchange or clearing agency, or
(d) reflects a major reorganization or restructuring of an exchange or clearing agency.		 The amount in O1 or O2 is increased by $100,000
 
  P. Requests to the Commission  
P1 Request for a copy (in any format) of Commission public records $0.50 per image
P2 Request for a search of Commission public records		 $7.50 for each 15 minutes search time spent by any person
P2 Request for one’s own individual registration form. $30

 

Activity Fees under Ontario’s Commodity Futures Act

Row Document or Activity (Column A) Fee (Column B)
  A. Application for specifically enumerated relief, approval and
recognition		  
A1 Application under:
a) Section 24 or 40 or subsection 36(1) or 46(6) of the CFA, and
b) Subsection 27(1) of the Regulation to the CFA.		 Nil
A2 An application for relief from this Rule. $1,800
A3 An application for relief from any of the following:
a) OSC Rule 31-509 (Commodity Futures Act) National Registration Database;
b) OSC Rule 33-505 (Commodity Futures Act) Registration Information;
c) Subsection 37(7) of the Regulation to the CFA		 $1,800
  B. Market Regulation Recognitions and Exemptions  
B1 An application for registration or recognition of an exchange under
section 15 or 34 of the CFA if the application is not made in
conjunction with the application for recognition of an exchange under
the Securities Act;		 $110,000
B2 An application for registration or recognition of an exchange under
section 15 or 34 of the CFA if the application is made in conjunction
with the application for recognition of an exchange under the Securities
Act;		 $22,000
B3 An application for exemption from registration of an exchange under
section 80 of the CFA if the application is not made in conjunction with
the application for exemption from the recognition of an exchange
under the Securities Act;		 $83,000
B4 An application for exemption from registration of an exchange under
section 80 of the CFA if the application is made in conjunction with the
application for exemption from the recognition of an exchange under
the Securities Act;		 $22,000
B5 An application for recognition of a clearing house under section 17 of
the CFA if the application is not made in conjunction with the
application for recognition of a clearing agency under the Securities
Act;		 $110,000
B6 An application for recognition of a clearing house under section 17 of
the CFA if the application is made in conjunction with the application
for recognition of a clearing agency under the Securities Act.		 $22,000
(plus an additional fee of $100,000 in connection with an application described in any of Rows B1 to B6 that
(a) reflects a merger of an exchange or clearing agency,
(b) reflects an acquisition of a major part of the assets of an exchange or clearing agency, or
(c) involves the introduction of a new business that would significantly change the risk profile of an exchange or clearing agency, or reflects a major reorganization or restructuring of an exchange or clearing agency).
 
  C. Registration-Related Activity  
C1 New registration of a firm in one or more categories of registration $1,300
C2 Addition of one or more categories of registration $700
C3

Registration of a new individual to trade or advise on behalf of the registrant firm

Notes: (i) If an individual is registering as both a dealer and an adviser,
the individual is required to pay only one activity fee.

 $200 per individual, unless the individual makes an application to register in the same category of registration within three months of terminating employment with a previous firm.
 
C4 Review of permitted individual $100, unless the individual is already registered to trade or advise on behalf of the registrant firm
C5 Change in status from a non-trading or non-advising capacity to a trading or advising capacity $200 per individual
C6 Registration of a new registrant firm, or the continuation of registration of an existing registrant firm, resulting from or following an amalgamation of one or more registrant firms $1,000
C7 Application for amending terms and conditions of registration $800
  D. Director Approval  
D1 An application for approval of the Director under Section 9 of the Regulation to the CFA 
Note: No fee for an approval under subsection 9(3) of the Regulation to the CFA is payable if a notice covering the same circumstances is required under sections 11.9 or 11.10 of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.		 $3,500
  E. Pre Filings  
E1 Each pre-filing relating to the items described in Rows B1 to B6 of Appendix B One-half of the otherwise applicable fee that would be payable if the corresponding formal filing had proceeded at the same time as the prefiling.
E2 Any other pre-filing of an application 
Note: The fee for a pre-filing of an application will be credited against the applicable fee payable if and when the corresponding formal filing is actually proceeded with; otherwise, the fee is non-refundable.		 The applicable fee that would be payable if the corresponding formal filing had proceeded at the same time as the pre-filing.
  F. Any Application not otherwise listed in this Rule  
F1 An application for
(a) relief from one section of the CFA, a regulation or a rule, or
(b) recognition or designation under one section of the CFA, a regulation or a rule.		 $4,800
F2 An application for
(a) relief from two or more sections of the CFA, a regulation or a rule made at the same time, or
(b) recognition or designation under two or more sections of the CFA, a regulation or a rule made at the same time.		 $7,000
F3 An application made under F1 or F2 if none of the following is subject to, or is reasonably expected to become subject to, a participation fee under this Rule or OSC Rule 13-502 Fees:
(i) the applicant;
(ii) an issuer of which the applicant is a wholly owned subsidiary;		 The amount in F1 or F2 is increased by $2,000
F4 An application under subsection 78(1) of the CFA if the application
(a) reflects a merger of an exchange or clearing agency,
(b) reflects an acquisition of a major part of the assets of an exchange or clearing agency,
(c) involves the introduction of a new business that would significantly change the risk profile of an exchange or clearing agency, or
(d) reflects a major reorganization or restructuring of an exchange or clearing agency.		 The amount in F1 or F2 is increased by $100,000
  G. Requests to the Commission  
G1 Request for a copy (in any format) of Commission public records $0.50 per image
G2 Request for a search of Commission public records $7.50 for each 15 minutes search time spent by any person
G3 Request for one’s own individual registration form $30